GJF Announces Day-Long Interactive Workshop ‘Labham’

gjf-logoMumbai: The All India Gems and Jewellery Trade Federation (GJF) and all major G&J Trade Associations, has announced the first-ever educational ‘Labham’ programme on 1st June 2014 in Rajkot onwards for all jewellers, manufacturers, traders and other constituents of the G&J businesses in and around Rajkot.

It will be held in Chennai on 10th June and in New Delhi on 23rd June. Labham is an interactive and intensive one-day educational workshop on compliance, risk management and best business practices in the gems & jewellery business. To register, participants can call 02267382707/ 02267382727 or mail at infodesk@gjf.in.

Mr. Haresh Soni, Chairman, All India Gems & Jewellery Trade Federation (GJF), said, “We, at GJF, have identified the needs of a large section of small jewellers vis-a-vis compliance with complex practices of doing business and designed this day-long programme for the benefits of the jewelers, manufacturers and trade. We shall conduct it in 25 cities across India.” He added, “I believe, this educational workshop will empower all participants to operate their business in a more professional manner and attract qualified young generation to the trade.”

The workshop specially conceived and developed by GJF is aimed at imparting knowledge to participants on various issues related to the regulatory framework of best practices for conducting jewellery business. It has been specially designed to empower small manufacturers, traders and jewellers to manage their business more effectively and efficiently. All participants would be offered a ‘Labham’ reference book, which will explain the essential elements of conducting business and adhering to the regulatory and taxation norms prevailing in the industry. It will help improve governance, credibility and ease of operations for the small and tiny manufacturers. Experts will conduct the Labham programme.

GJF recognizes that most jewellery businesses in India are family run and it is important that the industry is able to attract and retain the services of professionally qualified young generation. During the first phase, GJF has decided to organize such educational programme in 16 cities across all regions. The Federation is making efforts to reach out to maximum number of self-employed jewellers with an objective of gradual transition of the industry from unorganized to the organized mode of business operations.

The course fee is affordable at Rs. 750 per head for GJF members and Rs. 1,000 per head for non-members. The four power-packed modules of the day-long GJF Labham programme are as follows:

I. Finance & Banking, Taxation & Accounting related key aspects, Modes of finance, working capital, loan options, banking and other financing alternatives/ schemes, etc.

Direct taxation: TDS and TCS Applicability, transfer pricing, assessment and appeals proceedings, search and survey proceedings, wealth tax, etc.; Indirect taxation: Value added tax on intra-state sales and compliances, central sales tax on inter-state sales, service tax applicability, excise duty applicability, customs duty applicability, octroi tax; Internal control checklist; and Insurance as a loss mitigating tool.

II. Regulatory compliance framework: Labour laws; Employees benefits regulations; Weights & Measures Act; Prevention of Money Laundering Act; Goods & Services tax; Companies Act 2013; and Direct Tax Code.

III. Operations Management: Safety & Security Regulations: CCTV and alarm systems; Training of staff: Product knowledge, technical knowledge, hospitality and front office management.

IV. Standardization and certification Importance of third party certification: Gemstones and hallmarking; Disclosure of weight, metal Karatage, gemstones – natural, synthetic, treated; Benefits of a management system; GJF TrustMark Maturity Model: Focus on quality, health and safety and environment.